1 / 4 of UK adults declared they might be prepared to take a position, or make investments extra, in crypto in the event that they might be reassured about their safety considerations across the market. With out enhancing safety measures, crypto companies are prone to failing to fulfil their potential and competing on a world stage.
Shoppers have hinted that safety considerations are a precedence – virtually half (45%) consider that crypto won’t ever turn into mainstream except safety and regulation are improved. TMT Evaluation is an organization specialised in offering intelligence on cellular numbers globally. Figures supplied by the FCA completely to TMT Evaluation reveal that solely 12% of crypto asset corporations that utilized for registration beneath cash laundering rules have been permitted within the first 12 months since FCA authorisation grew to become a requirement.
There stays appreciable scepticism amongst potential buyers which is holding again market development – over half (54%) of UK adults mistrust cryptocurrencies as they don’t consider the safety processes in place are strong sufficient to guard buyers, equally, virtually two thirds (63%) of UK adults aged over 55 are involved over the safety measures of crypto exchanges, in comparison with beneath half (42%) of 18-34 yr olds.
Over half (53%) of UK adults admit they nonetheless have no idea something about cryptocurrencies, regardless of the UK crypto market hitting USD 170 billion, in accordance with Chainalysis.
Crypto-crime hit a report excessive in 2021, rising 79% from USD 7.8 billion to USD 14 billion (Chainalysis figures present), fuelling considerations among the many public; 4 in ten (41%) survey respondents suppose that there’s extra fraud within the crypto trade than wherever else in monetary providers – the determine rises to virtually half of males (46%) and over a 3rd (36%) of girls.